Five judge bench of Supreme Court directs SBI to submit entire details of electoral bonds by tomorrow evening
The apex court of the country has today straight away rejected the appeal ( petition) of SBI seeking enough time for submitting electoral bonds directing it to submit the entire details of the electoral bonds by the evening of 12 th March positively. This is a huge jolt to the SBI.
The Court has also directed the Election Commission to submit the same by March 15 . The Supreme Court has directed the CMD, SBI to submit an affidavit in this regard.
Though the SC has denied starting the defamation action against the SBI it did warned the SBI that if it did not act on the directives of the supreme court to furnish the detailed report of the electoral SBI bonds by tomorrow evening, it will definitely invite a contempt ( Breach of Supreme Court ) action.
While passing a strong remark against the SBI the apex court said we haven’t asked you for tallying the data but to duly follow what the court asked for.
Justice Sanjeev Khanna, one of the member of five judge bench said that you have to only take out the data from sealed cover and sent to us.
The CJI asked the SBI as to what have they done during the last 26 days , how much of the data has been tallied ? He also said that asking for time to tally the data isn’t worth it. The Court hasn’t asked you to do this. Afterall all the data has already been sent to the chief Mumbai branch. You had said in your application that it will take time to tally the information from one silo to another silo said the bench.
The Supreme Court was hearing the petition of SBI urging for enough time till 30 June to furnish the information on Electoral bonds of various political parties.
It was also related to the ADR regarding filing of contempt proceedings against the SBI.
The five judge bench of the supreme court is hearing this significant case comprising of chief justice of India D.Y Chandrachud, Justice Sanjeev Khanna, Justice B.R.Gavai, Justice J.B.Padriwala and Justice Manoj Mishra.
While arguing his case senior advocate Harish Salve appearing for the State Bank of India asked for more time to furnish the details of the electoral bonds.
Putting his point forward he said that the apex court has asked the SBI to furnish the entire details of the electoral bonds with effect from April 2019 till date. Our problem is that we are turning the entire process upside down. Our SOP has finalised that there was no mention of the name of the buyer in our core banking system and Bond number. We were instructed to keep this secret. Therefore we are now trying to collect the detailed information.
The CJI said that you had told us that the name of the giver of money was kept in a sealed envelop in a directed bank. And all the sealed envelopes are deposited in the chief Mumbai branch of SBI. On the other hand all the political parties can get it encashed from 29 authorised bank branches in the country.
The counsel of SBI Harish Salve argued that the name and date of the buyer is not available altogether, it has been coded. It will take lot of time to decide it. The Supreme Court bench asked that you should have KYC for every purchase , because when ever a purchase is done KYC is asked for.
Salve replied, we have the details, I am not saying that we don’t have it. He said we have all information as to who bought, which party got the bonds etc.
CJI said our judgement was on 15 th February and today is 11 th March . What steps have you taken during the last 26 days ? At least something must have been done. We have been told that the bonds have certain numbers.
Salve responded saying those numbers are kept secret, not disclosed. If these numbers are used in every transaction they need to be traced .
On this the chief justice of India said the ECI has furnish details while abiding on the interim order . The registry has kept it safe n secure custody. We will now give them orders to open them. We will ask ECI to tell us whatever they have and tell SBI as well they should also disclose whatever they have. You will have to act and respond as per the apex court’s directives. You will have to share it with ECI . This is a very important serious matter said the CJI. Saying that this is the order of the five Judge bench this is extremely serious. CJI said that the ECI has the entire data about the electoral bonds and we direct them to divulge those information .
Justice Sanjeev Khanna categorically said that SBI is a prestigious number 1 bank in the country and it will come forward to divulge all the information about these electoral bonds.
